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EUR/USD Price Analysis: Downside pressure should alleviate above 1.0700

- EUR/USD regains the smile and briefly surpasses the 1.0600 barrier.

- Once the 1.0700 region is cleared, the pair’s selling bias could alleviate somewhat.

EUR/USD picks up some buying interest and manages to surpass the key hurdle at 1.0600 the figure on Monday.

In case bulls push harder, the pair should meet the next hurdle at the monthly high of 1.0694 (October 24), which comes just ahead of the round level of 1.0700 and prior to the weekly peaks of 1.0736 (September 20) and 1.0767 (September 12).

In the meantime, while below the 200-day SMA at 1.0811, the pair’s outlook should remain negative.

EUR/USD daily chart

EUR/USD

Overview
Today last price1.0597
Today Daily Change70
Today Daily Change %0.31
Today daily open1.0564
 
Trends
Daily SMA201.0561
Daily SMA501.066
Daily SMA1001.0819
Daily SMA2001.0814
 
Levels
Previous Daily High1.0597
Previous Daily Low1.0536
Previous Weekly High1.0695
Previous Weekly Low1.0522
Previous Monthly High1.0882
Previous Monthly Low1.0488
Daily Fibonacci 38.2%1.0574
Daily Fibonacci 61.8%1.0559
Daily Pivot Point S11.0534
Daily Pivot Point S21.0504
Daily Pivot Point S31.0473
Daily Pivot Point R11.0596
Daily Pivot Point R21.0627
Daily Pivot Point R31.0658

Author

Pablo Piovano

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

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